This week, co-host Deanne Bell meets with Johnny, the inventor of X-Suit, a pneumatic tourniquet device designed to combat blood loss on the battlefield. As a veteran and former combat medic, he was inspired to create the device from first-hand experiences.
Having worked on it for the past four to five years, he has put approximately $20,000 into the product. Taking a look at the prototype, which contains a central console and four tourniquets, Bell finds the console difficult. She thinks it needs to be durable and foolproof. Bell also believes it will be difficult to deliver the idea to the military.
At Bluefish Concepts, the engineers are very impressed with the idea, all while taking in all of Bell’s suggestions. In the updated prototype, the device includes a redesigned control unit, in additon to adding a CO2 compartment.
As part of the field test, an ambush is simulated where two retired soldiers are injured. One receives traditional treatment methods from a medic, while the other uses the X-Suit. It took 23 seconds with the X-Suit, while a traditional tourniquet took more than a minute. They liked the idea and how much faster it performs. They question whether there’s enough protection in the case of an IUD blast, which it is, in addition to having enough pressure to stop the bleeding.
For the pitch, Johnny has the opportunity to meet with investor Matt Talbert, CEO of International Offset Corporation. He is asking for $800,000 for 20 percent equity. He hopes to sell them at $500.
Talbert thinks it’s a “phenomenal” idea, but thinks getting it into the military will be very difficult given the military-industrial complex. He ultimately offers $100,000 for 50 percent, which he accepts.
“Make Me A Millionaire Inventor” works to turn a million dollar idea to a million dollar invention. Hosts and engineering experts George Zaidan and Deanne Bell find entrepreneurs with revolutionary ideas, take a look at their prototype and help take the product to the next level. According to CNBC, “Top engineers scour the country looking for amazing ideas they’re convinced can make big money. They’ll track down the inventors and give them a second chance to bring their ideas and dreams to life.” The hosts also have the opportunity to hear their pitch before taking the product to an investor, as well as connect with the inventor by hearing their backstories.
“Make Me A Millionaire Inventor” airs every Thursday night at 10 p.m. on CNBC.
What are your thoughts on X-Suit? Sound off in the comments section below!